Chinese Scholar Makes the Case That It’s Bond Debt, Not Bilateral Loans That Trap Developing Countries

A new research paper by prominent Tsinghua University development finance scholar Tang Xiaoyang provides the most detailed argument to date in defense of China’s bilateral lending to Global South countries and how mostly Western-initiated bonds are the real culprit in burdening poor states with unmanageable debts.

The 68-page paper was published in both English and Chinese and marks one of the strongest refutations of the “debt trap” narrative that has dogged Chinese lending to developing countries since Indian pundit Brahama Chellaney first published the accusation in 2017.

  • Get a daily email packed with the latest news and analysis from Africa, Asia, and across the Global South.
  • Read exclusive insights on the key trends shaping China’s relations across the Global South.
  • Full access to the News Feed that provides daily updates on Chinese engagement in the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Eric Olander

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3 From J-10C to Kaan? Indonesia’s Fighter Jet Deal With Turkey Shocks Chinese Military Fans
4
Indonesia Goes Nuclear, Taps China and Russia for Modular Reactors
5
Chinese Cargo Planes Secretly Ferrying Supplies to Iran, Claim Online Sleuths
6
Thailand in Last-Minute U.S. Talks as 36% Tariff Looms

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP